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The United States and China on Monday have announced a series of concrete measures to reduce commercial tensions between the two countries, including the partial suspension of the most recent reciprocal tariffs.
According to a joint statement released at the close of a new round of conversations held in Geneva, Beijing will reduce tariffs on US products of 125% to 10% over the next 90 days, while Washington will cut their taxes to Chinese goods from 145% to 30% during the same period.
The two powers also agreed to establish a permanent consultation mechanism, in what represents the most tangible gesture of distension since the beginning of the current tariff climb.
